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Crypto.com Surpasses Coinbase in Trading Volume as Institutional Demand Grows
Summary: Crypto.com has overtaken Coinbase in trading volume, driven by a surge in institutional clients and the launch of the first spot Ether (ETH) ETFs in the United States. According to Messari data, Crypto.com reported a 24-hour trading volume of $3.16 billion on August 1, 2024, surpassing Coinbase’s $2.12 billion. This growth is attributed to increased participation from traditional ...
Crypto.com has overtaken Coinbase in trading volume, driven by a surge in institutional clients and the launch of the first spot Ether (ETH) ETFs in the United States. According to Messari data, Crypto.com reported a 24-hour trading volume of $3.16 billion on August 1, 2024, surpassing Coinbase’s $2.12 billion.
This growth is attributed to increased participation from traditional finance (TradFi) institutions and advanced retail traders, supported by stronger market conditions and product offerings. Crypto.com’s managing director, Giuseppe Giuliani, noted that the spot Ether ETFs, launched on July 23, played a significant role in boosting trading activity, with Ether volume seeing double-digit week-on-week growth.
Institutional adoption of cryptocurrencies continues to play a pivotal role in driving market activity, with the growing interest from large TradFi players helping to solidify Crypto.com’s position in the market.
Tags: ETF,Ether,TradFi
Link: Crypto.com Surpasses Coinbase in Trading Volume as Institutional Demand Grows [Copy]
